Consumer Law, Warranties Non Disclosure Agreement

[ewngash]

Hi,
I'm looking to purchase a business and wanted to review the prospective business financials, but the agents want me to first sign a NDA. Some of the language seems standard while some unsually restrictive eg asking to hold as confidential and not use any of the information for a period of 5 years from the date the NDA is signed . Is this a reasonable time frame?

Thanks,
E

 

[dee_dub]

It's not that unusual. 3 or 5 years is fairly standard. Longer is not unheard-of.

Whether that's a reasonable period depends on the circumstances. Generally, I have no objection to indefinite periods. It's confidential information; keep it confidential.